After testing 38, 38+P and .357 in my 2.25" SP101, I settled on .38+P. The follow up shots for me are twice as fast, splits at 7 yards are around 0.40 seconds, whereas a .357 is around 0.80. Also, .38 +P is pleasant and enjoyable, but the .357 is punishing. I weigh cost and availability when buying ammo, but here are my "ideal" loads listed in order:
1. Cor-Bon DPX 110 grain +P HP (Gets high velocity, good expansion and penetration.)
2. Speer Gold Dot 135 grain +P Short Barrel JHP (All around great performer)
Tie for third place, (Comes down to cost)
3. Remington 125 grain +P SJHP (The UMC stuff) This round is a winner in actual usage. (Marshall Sanow)
3. Remington 158 +P LSWCHP (Also a winner in actual usage)
I currently load number 2, because #1 is just too expensive. (I found a good deal on Gold Dots) I wouldn't feel underequipped with any of these however.